British American says weighing offer for Souza Cruz shares

LONDON Feb 23 (Reuters) - British American Tobacco
is considering a possible public tender offer for as many as all
the shares in Brazilian tobacco company Souza Cruz it
does not already own.

BAT said on Monday that an offer for any of the 24.7 percent
of Souza Cruz's shares it does not own would be at 26.75
Brazilian reais, in cash. That price represents a 30 percent
premium to volume weighted average closing share price over the
last three months.

The offer is still subject to approval by BAT's board and
finalisation of appraisal report by an independent evaluator, as
required by Brazilian rules.